Is the Orlando economy bouncing back? (short sale, neighborhood, buy)

[Infinite loop]

I read on cnnfn that when it comes to credit scores, short sales only take off 80-90 points while foreclosures take off about 200 points. I thought those numbers was supposed to be a lot more than that, like twice that, should be anyway.

[StreetSmarts]

Originally Posted by beckycat

Sadly, mine has gone down $11,500 on Zillow and I live in a great location.

In the last 30 days?

[StreetSmarts]

Originally Posted by Infinite loop

I read on cnnfn that when it comes to credit scores, short sales only take off 80-90 points while foreclosures take off about 200 points. I thought those numbers was supposed to be a lot more than that, like twice that, should be anyway.

100-150 I believe. But cant tell you exactly. I think it also depends on the credit score before then, and also if the person's paying all of their other bills on time.

[DavieJ89]

Originally Posted by ComSense

I dont hate Orlando - that's a strong word. I dont want to use that word. I dislike some of the aspects of Orlando - mainly a lot of the ghetto vibes and the rudeness.

never said you hated orlando

i said "dislike"

i gotta say after i came back from vegas, i noticed the rudeness a lot more then before

no place is perfect Com, Orlando is not perfect and neither is Las Vegas. Im sure when I move there I will find plenty of things I will dislike

I still like Orlando, but it is old hock to me and I am ready to move on and make a change

[2goldens]

Stay on topic

[sp2007]

Well Real Estate is still imploding but it does sound like unemployment might be leveling off.

[annerk]

I don't agree that real estate continues to implode. That seems to vary by neighborhood. The more desirable neighborhoods have leveled off and even seen gain lately.

[sp2007]

But as seen here (and I would add my voice to them) most average neighborhoods are still suffering and losing value. My house (yes I am now absentee owner) has gone below year 2000 value.

[StreetSmarts]

Originally Posted by annerk

I don't agree that real estate continues to implode. That seems to vary by neighborhood. The more desirable neighborhoods have leveled off and even seen gain lately.

Some of the higher-end subdivisions took bigger hits than the cheaper ones. Some homes like mine went from 300k down to the 160k range, and some houses in the 700k and up range have gone down to the low 300k's.

[annerk]

Originally Posted by ComSense

Some of the higher-end subdivisions took bigger hits than the cheaper ones. Some homes like mine went from 300k down to the 160k range, and some houses in the 700k and up range have gone down to the low 300k's.

More expensive and more desirable don't always go hand in hand.

I don't think ANYONE who bought at the top of the market has retained their value. But in my neighborhood, anyone who bought prior to early 2004 has positive equity at this point--and that's over half of the homes. It's also not a transient neighborhood--people buy here to live here long term, so even those who are upside down now realize that they will eventually be ahead of the game again and aren't running to short sale just because they are upside down.